![]() Target 8.10: Accelerated adoption of digital solutions is transforming access to finance.The 2021 data shows a very modest 6% upturn, indicating that tourism’s economic contribution is on the path to recovery. Target 8.9: The share of tourism in global GDP nearly halved in 2020 as a result of the COVID-19 pandemic.This translates to almost 1 in 10 of all children in child labour worldwide. Target 8.7: The latest estimates indicate that the number of children in child labour rose to 160 million worldwide at the beginning of 2020 – an increase of 8.4 million children in the last four years.Although this is a slight decrease since 2020, when the NEET rate was at an all-time high, it remains above the 2015 baseline of 22.2% and a long way from the 2030 target. Target 8.6: Globally, nearly one in four (23.5%) young people were not in education, employment, or training (NEET) in 2022.Global unemployment is projected to edge up slightly in 2023, by around 3 million, to reach 208 million, corresponding to an unemployment rate of 5.8%. Despite an uncertain global economic outlook, unemployment is projected to increase only moderately, as a large part of the shock is being absorbed by falling real wages in an environment of accelerating inflation. Target 8.5: The global unemployment rate declined significantly in 2022, falling to 5.8% from a peak of 6.9% in 2020 as economies began recovering from the shock of the COVID-19 pandemic. ![]() ![]() However, this calculation is only based on average hourly earnings, thus not controlling for characteristics such as the sector or occupation, educational level or amount of work experience. The median gender pay gap across 102 countries is approximately 14%. Target 8.5: Equal treatment in employment, including fair and equitable earnings, is fundamental for achieving decent work for all.The subsequent recovery from COVID-19 has been driven by informal employment, which has caused a slight increase in the incidence of informality. The pandemic resulted in a disproportionate job loss for informal workers, particularly for women, in 2020. Prior to the onset of the pandemic, the incidence of informal employment had been slowly declining and stood at 57.8% in 2019. Target 8.3: Globally, 58.0% of those employed were in informal employment in 2022, amounting to around 2 billion workers in precarious jobs, most lacking any form of social protection.The latest estimates extend the downward growth trend, from an average annual rate of 1.8% between 2000-14 to 1.4% between 2015-22. However, even before the onset of the COVID-19 pandemic, productivity growth had been slowing around the world. Productivity growth slowed in 2022, increasing by only 0.5%. ![]()
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